Online Retail Giant, Inditex, Achieves Profitability in the Digital Realm
In a significant move for the fashion retail giant, Inditex's online sales division, ITX Ecommerce, reported a profit of 4.85 million euros in the last fiscal year, marking a notable increase from the 3.62 million euros earned in the previous year.
The surge in profits can be attributed to the launch of the online shops for Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Uterquęe in September 2011. These additions expanded the digital sales channels beyond Zara, increasing online revenue streams and strengthening Inditex's overall e-commerce presence.
The Zara online store, launched in September 2010, also played a significant role in the profit growth. Prior to this, Inditex only sold online through Zara Home, starting in 2007.
ITX Ecommerce, responsible for managing the online sales of the Galician group Inditex, reported revenues of 43 million euros in the 2010 fiscal year. The source of this information is Cinco Días.
It is important to note that the revenues considered in the last fiscal year's profit calculation were only from Zara and Zara Home stores. The article does not provide information about the profits or revenues of any other stores or fiscal years.
This development underscores Inditex's commitment to digital transformation and its strategy to capitalise on the growing e-commerce market. The company continues to innovate and expand its online offerings, providing customers with a wide range of fashion choices at their fingertips.
Read also:
- Transforming Digital Inventories in the Food Industry: A Comprehensive Guide for Food Businesses
- 1. Key Points for August 14: Gathering in Alaska, Immigration Enforcement (ICE), Financial service Zelle, Infowars, and Air Canada Airline Incidents
- Automobile manufacturer IM Motors reveals an extended-range powertrain akin to installing an internal combustion engine in a Tesla Model Y.
- Conflict Erupts Between Musk and Apple Over Apple Store's Neglect of Grok
